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UNIT 11, CRANBURY COURT, 19-25 GORGE RD $695,000 + GST (IF ANY) E queenstown@colliers.com W colliers.co.nz/212427 T 03 441 0790

Otago Realty (NZ) Ltd, Licensed agent REAA 2008


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CONFIDENT INVESTMENT Take advantage of a rare opportunity with this three bedroom, two bathroom, sunny end of row apartment in the popular Cranbury Court complex. With a strong occupancy rate and internationally recognised management, you can be sure your investment is in safe hands. Fitted out with comfortable and stylish furnishings, the ground floor has open plan kitchen, dining and living that steps out to a balcony, and also includes the master bedroom and ensuite. Upstairs houses two more bedrooms, plus a family-sized bathroom. Centrally located just an easy 400m walk from the heart of Queenstown, with scenic views of the Skyline Gondola and surrounding mountains. Currently in management and generating consistent returns, owners can enjoy up to 15 days usage every 6 months. However, there is the potential to remove from the management pool and either self-manage or live in this smart apartment yourself. Boundary indicative only. • Three bedroom, two bathroom 57sqm apartment in central location • Stress-free management, showing consistent returns currently over 4.6% net return • 1 x dedicated car park • Just a short stroll to Queenstown’s many shops, restaurants and activities

3 Bedroom

2 Bathroom

1 Living Area

1 Off-Street Park

57m2 Floor Area


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Boundary indicative only


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EXECUTIVE SUMMARY ADDRESS RATES CV

Unit 11, Cranbury Court, 19-25 Gorge Road, Queenstown QLDC: $3,766 ORC: $153.68 $630,000

BODY CORPORATE $6,960 per annum MANAGEMENT SUMMARY FLOOR AREA RETURN ON INVESTMENT

Currently in management but there is potential to remove from the management pool and either self-manage or live in yourself. Total 86m² more or less, comprised of: 57m² floor, 10m² patio, 19m² undercover parking space 4.63% net return

EXTERIOR

Plaster, Colorsteel

FLOOR COVERINGS

Carpet, Tiling

WINDOWS

Aluminium joinery, Double glazing

HEATING

Electric heaters

GENERAL FEATURES

Indoor/outdoor living, Sunny

FURNITURE

Fully furnished

ASPECT

North, West

LAUNDRY

Part of Room

VIEWS

Town, Mountain

PARKING

1x Dedicated Park


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OTHER INFORMATION The following information is also available for this property - contact us for your copy. • • • • • •

Full Pre Contract Disclosure Statement Full title Last 12 months financial performance Body Corporate rules AGM minutes Chattels list


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Information about the Unit 4

The amount contribution levied by the body corporate under section 121 of the Unit Titles Act 2010 in respect of the unit is $6,960.00.

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The period covered by the contribution in paragraph 4 is 12 months from 1 July to 30 June 2019.

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The body corporate has not finalised the budgets and levies for the ensuing financial year under section 121 of the Act for the 12-month period commencing 1 July 2019.

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The body corporate has integrated general maintenance items to be completed been included in the approved budgets. 10 Year Maintenance Plan attached

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The body corporate has the following accounts: The Body Corporate has one bank account held at SBS bank, As at the date of this statement Operating Account

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$173,000.64

Under section 148 of the Unit Titles Act 2010, a buyer may request an additional disclosure statement before the settlement of an agreement for sale and purchase of a unit. The buyer must pay to the seller all reasonable costs incurred by the seller in providing the additional disclosure statement. The estimated cost of providing an additional disclosure statement is $500.00 Plus GST

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The unit or the common property is not currently, and has never been, the subject of a claim under the Weathertight Homes Resolution Services Act 2006 or any other civil proceedings relating to water penetration of the buildings in the unit title development.

Date:

7 March 2019

Signed: Kirstin Mitchell – E L I T E M A N A G E M E N T


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Date:

11/03/2019

For:

To Whom It May Concern

Property:

Unit 11, Cranbury Court, 19-25 Gorge Road, Queenstown

Regarding:

Rental appraisal

Great returns - Smart solutions - Sound advice Queenstown investment property is our specialty. At Pure Property, we focus purely on managing properties to maximise rental income and minimise owner input. As a small team dedicated to property management and with decades of combined industry experience, Pure Property understand the market dynamics which underpin our unique community. We don’t take a ‘one-size fitsall’ approach, instead, our personalised service allows us to tailor management options to suit your needs.

Pure Property will take care of every aspect of managing your property and ensuring it’s kept as you like it. Our services include: -

High-exposure marketing to minimise vacant time

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In-depth tenant selection to protect your investment

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Full and detailed financial reporting

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Monthly payment schedule

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Regular rental reviews and careful arrears control

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Skilled maintenance contractors on hand 24/7

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Regular scheduled inspections with photographic reporting

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Use of market-leading property management systems and technology

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On-call property managers

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Pro-active communication


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Thank you for providing Pure Property with the opportunity to appraise the rental potential of your investment. I have discussed the home with our property management team to provide you with our feedback on the weekly rental potential of the property. We are delighted to be able to provide you with these details and look forward to more discussion with you regarding our management and marketing services. Property description

✓ ✓ ✓ ✓ ✓ ✓ ✓

Three-bedroom, 2 level, fully furnished home Two bathrooms Wall heaters throughout Open plan kitchen with dishwasher and dining environment Washing machine and dryer in second bathroom Balcony with views of surrounding mountains 1x dedicated carpark

We believe that a weekly rent of $850.00 to $975.00 per week is achievable. The property is perfect for 1 or 2 professional couples. Rental returns

This appraisal is based on the current market conditions, comparable Pure Property rental properties and advertised properties I,e Trademe and similar sites. Market and seasonal conditions at the time of letting along with the number of tenants, un/furnished and the length of the tenancy will also influence the actual rent that can be obtained. NB: Whilst careful market research has been undertaken to provide realistic appraisal information, Pure Property accepts no liability for the accuracy and completeness of the appraisal information provided. Users should not use the appraisal information for financial purposes.

Should you have any queries or require further information in relation to our services, please do not hesitate to contact our office. Kind regards,

Ro Richards Rental Division Manager P 03 409 0480 M 027 275 6057 E ro@purepropertyrentals.co.nz


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RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT TITLE Search Copy

Identifier OT18A/63 Land Registration District Otago 23 May 1997 Date Issued Prior References OT16B/1016

Supplementary Record Sheet OT16B/1025

Stratum in Freehold Estate Legal Description Unit 11A and Accessory Unit 11A and 11B Deposited Plan 24470 Registered Owners Flay Investments Limited The above estates are subject to the reservations, restrictions, encumbrances, liens and interests noted below and on the relevant unit plan and supplementary record sheet 8780562.2 Mortgage to ASB Bank Limited - 3.6.2011 at 3:06 pm

Transaction Id Client Reference

56504939 csvendsen001

Search Copy Dated 28/02/19 2:53 pm, Page 1 of 2 Register Only


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Cranbury Court Buy Price $ Payments to owners (includes GST) Feb-18 $ Mar-18 $ Apr-18 $ May-18 $ Jun-18 $ Jul-18 $ Aug-18 $ Sep-18 $ Oct-18 $ Nov-18 $ Dec-18 $ Jan-19 $

695,000.00 Plus GST if any 6,606.21 5,916.69 5,035.07 2,098.66 (483.77) 4,576.22 4,139.06 1,108.09 2,367.33 4,969.93 4,344.94 6,480.89

Gross Income Less GST Net Income

$ $ $

47,159.32 6,151.22 41,008.10

Rates Body Corp Less GST on Rates/BC Net Rates/BC

$ $ $ $

3,164.43 6,960.00 1,320.58 8,803.85

Nett Return ROI

The financial information herein has been provided by the vendor and should be used as a guide only. Colliers accepts no responsibility for any inaccuracy and recommends that potential purchasers should make their own independent calculations.

32,204.25 4.63 %


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QUEENSTOWN RESIDENTIAL SALES TEAM FRED BRAMWELL 021 435 694 fred.bramwell@colliers.com

STEPHEN HEBBEND 021 453 881 stephen.hebbend@colliers.com

BRENDAN QUILL 021 416 785 brendan.quill@colliers.com

JAMES O’HAGAN 021 909 323 james.ohagan@colliers.com

RICHIE HEAP 021 500 815 richie.heap@colliers.com

GRAEME JACKSON 021 667 067 graeme.jackson@colliers.com

SOPHIE JAMES 027 463 5361 sophie.james@colliers.com

MARIA WYNDHAM 021 997 522 maria.wyndham@colliers.com

EMMA LUPS 027 428 5100 emma.lups@colliers.com

NICOLE BELL 021 898 326 nicole.bell@colliers.com

JANNETTE HIGHSTED 021 608 613 jannette.highsted@colliers.com

ROWAN MCDONALD 021 222 6314 rowan.mcdonald@colliers.com

JESSE JOHNSTON 027 733 7755 jesse.johnston@colliers.com

SCOTT COLLINS 027 478 4661 scott.collins@colliers.com

HUGH CLARK 027 223 2997 hugh.clark@colliers.com

FRASER LUSCOMBE 0274 247 859 fraser.luscombe@colliers.com

KATH CRUICKSHANK 027 436 8531 kath.cruickshank@colliers.com

GLEN ROLLE 027 534 7382 glen.rolle@colliers.com


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COLLIERS INTERNATIONAL OTAGO Colliers International Otago’s residential sales team provide leading property sales and marketing services with an established track record and unrivalled teamwork. We think global and act local, with strong regional knowledge and connections across all property sectors. Our residential team is focused on adding value to our clients’ investment decisions. We are market leaders in research, allowing a unique, knowledge-based approach to buying and selling. As the largest multi-service real estate professionals in Otago and Southland, we have specialists working in residential property, commercial sales and leasing, tourism brokerage, valuation and advisory. With offices in Queenstown, Wanaka and Dunedin, we can cater for your specific real estate requirements - strengthened by our national & international Colliers network.

WAIVER OF LIABILITY The information contained herein or otherwise in relation hereto is provided by Colliers International and affiliated companies in their best judgement, in good faith and as far as possible based on data or sources which are believed to be reliable. The material contained herein is not intended to substitute for obtaining individual advice from a qualified professional person. Colliers International, its officers, employees and agents expressly disclaim any liability and responsibility to any person whether a reader of this publication or not in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance whether wholly or partially upon the whole or any part of the contents of this publication. Therefore we record Colliers International has used its best endeavours to ensure the information provided is true and accurate but Colliers International does not accept any responsibility or liability in respect of any errors, inaccuracies or misstatements which may be contained in them. COPYRIGHT Colliers International. All rights reserved. No part of this work may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, recording taping, or information retrieval systems) without the written permission of Colliers International.


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ANTI-MONEY LAUNDERING Proving your identity when buying or selling a house

!

From 1 January 2019, real estate agents are required to verify the identity of their vendors in accordance with Anti-Money Laundering legislation. In some situations, real estate agents will also be required to verify the identity of purchasers. If your real estate agent cannot verify your identity in line with the legislation, they will not be able to act for you. Identity verification can take days and sometimes weeks if a Trust or company is involved, or where parties reside overseas.

The below gives an indication of some of the documents your real estate agent may ask you to present in person or as a certified document as part of this process: Individuals: Passport, NZ Firearms Licence or NZ Drivers Licence with another document such as a bank statement or statement issued by a Government agency. You will also need to provide a document with your residential address (for example, a utility bill).

Trusts: The Trust Deed and, for all trustees and settlors, the information required for individuals as noted above, together with information regarding the Trust’s source of funds or wealth. Additional information may also be required for beneficiaries and appointers.

Companies: Details of the company, together with the information for individuals noted above for every individual with more than a 25% shareholding, all individuals with effective control of the company and all individuals acting on behalf of the company. Information regarding source of funds or wealth may also be required.

Note: The above list is not exhaustive and is indicative only. Your real estate agent will assist you with the specific requirements in relation to your situation. DISCLAIMER: The material and information contained herein is for general information purposes only and is not intended to form professional legal advice. REINZ does not accept liability for any claim or other action that may arise directly or indirectly from the use of or reliance on the material and information provided herein. REINZ recommends you seek independent legal advice if you are unsure of your legal position.


KNOWLEDGE IS POWER Get in touch today for a copy of our 2018-19 Queenstown Market Report

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Otago Realty (NZ) Ltd, Licensed agent REAA 2008

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Unit 11 Cranbury Court ebook  

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